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28 Jan 2022

Financial Markets

The Baht weakened while the SET dropped on worries of Fed rates-hike cycle


    Thai SET continued to drop over-week, ending at 1,639.51 points, down 0.80% over-week. The average daily trading value was THB83,744.56 million, down 7.94% over-week. The mai closed at 619.58 points, down 6.39% over-week.
    The SET dropped sharply early in the week as it faced continuous selling pressure from the previous week amid concerns over the Fed’s tightening monetary policy and tensions between U.S. and Russia over Ukraine. The SET declined again around midweek following the outcome of the FOMC meeting, signaling that more interest rate hikes than previously signaled could be forthcoming amid rising inflation risks. The technology, energy and finance sectors were under the most pressure this week. However, the SET rebounded somewhat at the end of the week after having responded to such negative factors.

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Financial Markets